PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance.
Congressional Research Service
Version 00 · Introduced in Senate · Jul 26, 2023
Ending Tax Breaks for Massive Sovereign Wealth Funds Act
This bill denies a tax exemption for income from investments of a non-exempt foreign government. The bill defines non-exempt foreign government as any foreign government that holds, directly or indirectly, more than $100 billion in assets for investment or for the production of income, and either does not have a free trade agreement or treaty in effect with the United States, or is a foreign government of a covered nation (i.e., Russia, China, North Korea, or Iran).
The Department of the Treasury must publish a list of non-exempt foreign government for purposes of this bill.
People & committees
Sen. Wyden, Ron [D-OR] · D–OR
Legislative record
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Read twice and referred to the Committee on Finance.
Introduced in Senate
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jul 24, 2024. Consult Congress.gov for the current record.
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